Friday, December 26, 2014

Biopharmaceutical Industry in India Report 2010

Abstract

The biopharma sector makes for a huge part of the Indian
biotechnology industry—$1.9 billion in 2009-2010 to be precise, accounting for 60%
of the $3 billion revenues of the biotech industry as a whole. Vaccines
are of largest share among biopharma products with 60% contribution. Government
of India is giving support to this industry by providing funds to promote
growth through its initiatives like Biotech Industry Partnership Programme
(BIPP), and Biotech Industry Research Assistance Programme (BIRAP).With world
class R&D facilities and cost cutting capabilities India is attracting
contract research outsourcing projects which is an add-on to the biopharma
sector growth .The world has understood the value of India as R&D hotspot and
they simply cannot lose the opportunity of being in India.

Introduction

India has an enormous potential
in becoming a leading player in the global biotechnology industry. The Indian
biotech sector stands 4th in terms of volume and 13th in terms of value.
The sector is one of the fastest growing knowledge-based sectors in India and
experts predict that biotechnology is going to play a key role in shaping
India's rapidly developing economy.

Strengths

India’s
scientific knowledge pool stands at 3 million graduates, 700,000 post-graduates
and 1,500 PhD’s. A comparison of several countries shows that these numbers are
increasing in India annually at a faster rate than in other countries. India is
estimated to add 690,000 graduates annually which is significantly higher than
in China, Japan, the United States, or Europe.The
cost differential for drug discovery between the United States and India is
around 75%. In India, a drug discovery process may be around USD 200 million in
versus USD 800 million in the USClinical
trials cost 30% less to carry out in India than in Australia and about 50% less
than in the US.

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